Getting Bonded

Discussion in 'Business Operations' started by Eazy Cutters, Nov 7, 2006.

  1. Eazy Cutters

    Eazy Cutters LawnSite Member
    Posts: 3

    Is being Bonded very important if you are already licensed and insured?
     
  2. jsf343

    jsf343 LawnSite Bronze Member
    Posts: 1,767

    All depends on what you are doing. landscaping you need to be bonded in most states, landscape maintenance you do not. (at least not in Oregon) Can't speak for other states because I don't know. You DO need to be licensed, insured, and have all the other necessary legal items. Do the research for your state first, then do a local or city search of what is needed. I would also call your contractor board to find out.
     
  3. rodfather

    rodfather LawnSite Fanatic
    Posts: 9,501

    In 13 years, bonding has never been an issue in my business. I would think you would have to be doing over 1M a year in sales and/or have a bunch of municipal/government contracts for this to come up or be an issue.

    Maybe my ole bud Mike from MMLawn can add too this...
     
  4. Total.Lawn.Care

    Total.Lawn.Care LawnSite Senior Member
    Posts: 841

    Talk to your insurance agent about bonding. As it was explained to me, bonding is more applicable to a businesses that enter the home and could cause alot of damamge or theft. Also with Bonding, the claim is filed with the bonding company and they pay, then they (the bonding company) collects from you. So basically it is a way to say that yes, I am good for the possible damamges with the backing of XXX Bonding company to prove it. I was told that in our business (Lawn Care and Landscaping) having insurance is enough, you do not need to be bonded. Most people do not know the difference.
     
  5. olderthandirt

    olderthandirt LawnSite Platinum Member
    from here
    Posts: 4,900

    Bonding is required for most gov, jobs to insure completion date and your ability to actually do competant work
     

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